Goldman Counters Revenue Plunge With Cost Cuts; Shares Rise

  • The Dow's worst performing stock of the year bounces back
  • First quarter revenue is lowest since Blankfein became CEO

Can Goldman Sachs Cost Cut Its Way to Profitability?

Goldman Sachs Group Inc., the worst performer in the Dow Jones Industrial Average this year, climbed Tuesday after blunting a plunge in first-quarter revenue by cutting costs deeper than analysts predicted and vowing to do more if needed.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.